Hooters Parent Buys American Roadside Burgers

January 6, 2014

Chanticleer Holdings, parent of the 430-unit Hooters chain, has announced an agreement to acquire all outstanding shares of five-unit burger chain American Roadside Burgers. Terms of the acquisition were not released; the deal is expected to be approved by Sept. 30. Both companies are based in Charlotte, N.C.

ARB is a 10-year-old casual-dining restaurant chain featuring a nostalgic "made in America" theme. The concept opened 10 years ago in Smithtown, N.Y., and also operates two locations in Charlotte as well as units in Columbia and Greenville, S.C.

Mike Pruitt, Chanticleer’s chairman/CEO, said in a release that the deal for ARB “is our first departure from our ongoing development of Hooter’s restaurants in foreign countries. This acquisition will in no way change our focus on the development of Hooters restaurants internationally, but American Roadside presents a unique strategic opportunity in a high-growth space.”